Nvidia-Backed Data Center Builder Firmus Raises $505 Million

Firmus Technologies, a data center builder backed by Nvidia, has raised $505 million in a new investment round led by Coatue Management. The funding reflects continued capital flows into artificial intelligence infrastructure as cloud providers and tech giants expand their compute capacity. Firmus, an Australian company, constructs data centers designed to support AI workloads. Its backers include Nvidia's investment arm, which has been actively deploying capital into companies building out the physical infrastructure required for generative AI systems. The funding round also included participation from existing investors. The company did not disclose its valuation in the announcement. Data center construction has become increasingly critical to AI strategy as training and inference requirements grow. Major technology companies have announced tens of billions of dollars in capital expenditures for data center expansion over the past year. Firmus operates in markets including Australia, where it has developed facilities equipped with cooling and power infrastructure suited to high-density GPU clusters. The new capital will likely support expansion of its build-out capabilities as demand from AI companies accelerates.